Peel Hldgs PLC
20 September 2001
Peel Holdings p.l.c. ('Peel')
Reorganisation proposals discontinued
On 3 August 2001, the Board of Peel announced that it was considering
proposals for a reorganisation of the Peel group. The proposals involved a new
company becoming the holding company of the group and an opportunity was to be
given to shareholders to realise their investment in Peel through electing to
receive bank guaranteed loan notes as an alternative to shares in the new
holding company.
In the light of the continuing political and economic uncertainty following
the terrorist attacks in the United States, the Board of Peel has reluctantly
concluded that it would be inappropriate to continue with the proposals at
this time and work has therefore been discontinued.
The Annual General Meeting, postponed from September, will now be held on 24
October 2001 and notices of the meeting will be despatched to shareholders as
soon as possible. As previously announced, the second interim dividend of
10.2p will be paid on 1 October 2001 to shareholders on the register at the
close of business on 7 September 2001.
Contacts:
Peter Scott - Peel Holdings p.l.c. 0161 629 8200
Peter Bates - N M Rothschild & Sons Limited 0161 827 3800
Translate
